Future Market Insights, Inc. (FMI) reports a surging demand for dietary supplements, driven by a global shift towards proactive health and well-being. Consumers are increasingly conscious and engaged in managing their health, prioritizing preventive measures over reactive treatments. Explore full report for insights & stakeholder opportunities.
NEWARK, Del., Jan. 16, 2024 /PRNewswire/ -- According to Future Market Insights (FMI), the global Dietary Supplement Market is set to be valued at US$ 74.3 billion in 2024. It is expected to reach US$ 170.1 billion by 2034. Over the estimated period 2024 to 2034, global dietary supplement demand will likely increase at a CAGR of 9.5%.
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Consumers these days genuinely care about their well-being. This apparent pattern highlights an increased consciousness of one's own well-being and an active approach to preserving it.
Preventive care is becoming a more important part of everyday life for people who care about their health. In fact, the market for dietary supplements is seeing significant growth as a result of the broader health and wellness trend.
Weight management supplements are becoming more and more popular as people struggle with obesity and search for healthier ways to reduce their weight. The proactive health mindset that people are embracing is increasing the demand for dietary supplements.
Scope of the Report
Attribute | Details | ||
Dietary Supplement Market Value in 2024 | US$ 74.3 billion | ||
Dietary Supplement Market Value in 2034 | US$ 170.1 billion | ||
Anticipated Growth Rate (2024 to 2034) | 9.5% CAGR | ||
Forecast Period | 2024 to 2034 | ||
Historical Data Available for | 2019 to 2023 | ||
Market Analysis | Volume (MT) and Value (US$ billion) | ||
Key Countries Covered | • Canada • United States • Mexico • Brazil • Chile • Peru • Argentina • Germany • France • Italy • Spain | • United Kingdom • Netherlands • Belgium • Nordic • Russia • Poland • China • Japan • South Korea • India | • Thailand • Malaysia • Indonesia • Singapore • Australia • New Zealand • GCC Countries • South Africa • Central Africa • Others |
Key Dietary Supplement Market Segments Covered | Dietary Supplement Market Segmentation:
| ||
Key Takeaways from the Dietary Supplement Market Report
- The global dietary supplement market is expected to reach a valuation of US$ 170.1 billion by 2034.
- Global demand for dietary supplements will likely soar at a 9.5% CAGR over the forecast period.
- Based on form, the soft gel (capsule) segment is anticipated to expand significantly by generating a share of 35.8% in 2024.
- Australia's dietary supplement industry will likely expand at a steady CAGR of 8.4% from 2024 to 2034.
- China is expected to showcase a considerable CAGR of around 7.8% in the evaluation period.
"Sales of nutritional, herbal, and vitamin supplements have increased significantly. Along with the established enterprises, a number of new ones have entered this industry in tandem with this increase. These producers are all actively looking for new ways to reach large consumer bases," says Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.).
Who is winning?
Following key dietary supplement manufacturers listed in the report:
- BASF SE
- Abbott Laboratories
- Bayer AG
- Glanbia Plc
- Royal DSM N.V.
- Now Health Group, Inc.
- Herbalife International
- Amway Corp.
- ADM
- Arkopharma
- GlaxoSmithKline plc
- Nu Skin Enterprises, Inc.
- Ayanda
- Other
Purchase this report now to get key companies with their Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis.
The dairy supplement market is characterized by intense competition among key players. They are vying for high market shares through innovations in product formulations, marketing strategies, and expanding product portfolios.
They aim to meet the growing demand for nutritional enhancements and functional dairy-based products. Competitive assessments in this market emphasize continual research & development, quality control, and strategic collaborations to capture consumer attention amid evolving health trends and preferences.
For instance,
- BioAdaptives Inc., a well-known producer and distributor of cutting-edge, sustainable dietary supplements, announced the opening of a dedicated research and development Food Lab in January 2024. Its goal is to provide healthy powder goods and snacks that can be fed to both people and animals.
- In December 2023, O Positiv, a well-known supplement brand, increased its reach by launching its goods on Target.com and in over 250 Target locations nationwide. The company introduced FLO PMS Capsules & Gummies, MENO Menopause Capsules & Gummies, and URO Vaginal Probiotic Capsules.
Get More Valuable Insights
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global dietary supplement market, presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.
The study incorporates compelling insights on the dietary supplement market based on form (soft gel (capsule), gummies, powders, liquid, bars, and others), ingredients (vitamins, minerals, botanical supplements, amino acid, and others), sales channel (store-based retailing and online retailing), application (weight management, immune & digestive health, general health, heart health, sports nutrition, brain/mental health, bone & joint health, and others), and regions.
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About the Food & Beverage Division at Future Market Insights (FMI)
Expert analysis, actionable insights, and strategic recommendations - the food & beverage team at Future Market Insights (FMI) helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 billion+ data points, the team has lucidly analyzed the food & beverage industry in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
About the Author:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor's Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the United Kingdom, the United States, and India. FMI's latest market research reports and industry analysis helps businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition.
Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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